Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1887-03-12

troll of that great corporation 10 Mr.. Sully
at stated price and under certain con-
ditions, u fact that is no longer doubted in
Wall street, has prepared the financial and
speculative world for news Of almost any
sort and any magnitude. The contract of
sale, or option" Is it may be technically
termed, executed in Mr.. Sully's favor by
Mr.. Garrett, was, of course, attended with
conditions OF Importance, and upon the
performance or performance of those
conditions will depend the final
With so much understood it is
easily seen that every conflicting interest
would seek to put obstacles in Mr.. Sully's
path. If perchance it might be arranged
to force delay till Mr.. Sully's time for de-
liyering the millions of money needed to
assure the delivery of the stock had eN
pired there might be opportunities for an
opposition or rival deal that would put
him in the background. There are men in
Wall street who undertook yesterday to
bring this about, and Mr. Garrett has been
informed that if he will get out of his con-
tract with Mr.. Sully he shall have big
GER price for his stock than the Sully bar
gain gives.
WALL STREET VIEW or THE DEAL.
Wall Street has insisted on denOminating
mond Terminal deal, 4" though neither the
Richmond and Terminal Company, or any
other corporation had any interest in the
purchase except pruspectively. The bar
/ gain signed by Mr.. Garrett was stated to
/ be with Alfred Sully US an individual,
though it is explained by friends of both
| gentlemen that it was 4 matter Ofclear un-
derstanding that the end to be attained
was to make the Baltimore and Ohio a
| great trunk line property, stretching
| through the South over the Richmond
| Terminal and East Tennessee lines, and
Re aching New York over the Reading and
Jersey Central tracks, all these interested
corporations To DE under one control, II not
knit together 10y absolute consolidation
with one united system with one name and
one centraliZing direction.
There was much in this prospect to suit
| the purpose of Robert Garrett, devoted a.
| he is to the execution of his fathers great
ambition for magnificent trunk line that
| should have Baltimore for its headquarters.
I
y;,in tn sell, it is said: THAT headqulr-
! trrS al the united lines should be main
1 tanned in Baltimore. Likewise there IL
much in this proposition that did not SUIT
some other peoples purposes. And these
other people were not inclined to hide their
grievances either. They SueereG openly At
| the compact signed by President Garrett
and quietly hammered the life out Of the
stock market.
WHAT FIELD, SAGE AND G0uIp SAY.
! Said "A caller upon Cyrus W. Field: Il
cannot believe that Mr.. Garrett has bar
gained to sell the control OF the L. x o.; !;
/ he conldu't do such a silly thing"
You GoU'. know him. was Cyrus
/ Fields comment.
! Russell Sage said that he had discovered
that the Baltimore and Ohio had s., OOO,-
! O0O of floating debt; this was distressing;
( il showed incompetent aud wastctul man
! aaemsnt; the Baltimore and Ohio Tele-
= ,rapb Company had run the railroad com-
n,nv in 20 debt. Mr. Sage WAS afraid that
| IN tLaaa timss Nme railway managers ran
railroads only for spec, A'iVn SnNo az, .Ia
not, rs they should, tor the ber,, " ',''
Stockholders Mr.. Sage added that -
had been personally appraised of Mr.. Gar
rctt's bargain to sell the control of the
Baltimore and Ohio to Mr.. Sully; Of his
own knowledge he knew OF the contract
that had been signed.
When one ofhis acquaintances presumed
to discuss the big deal in his presence, Jay
| Could was content to say: mo, am not
L, 1 n, ,.,l -
To- put it through, won't it,
UtterauccS such rs these of Field, Sage
aud Could, freely quoted all over Wall
street, seemed TO show the temper OF in
tuence adverse to the Sully interests.
/ Some of the Richmond Terminal Dircc-
tors met yesterday and kindly volunteered
To tell the public ailcrward all that they
| did, and that, they said, was nothing.
In some pretty high places there was
manifested disposition to have the pub
/ lie believe that the whole deal WAS OFT.
| This Terminal meeting WIS advertised
| .Cr Just that purpose. How sincere shlS
was, or how much it aimed ut
DECEIYING THE PUBLIC,
will not be seen for some time to come,
SyudiCateS 4 mystery is the proper thing
in Wall street And there is reason for
the suspicion that people largely interest
ell i'm the requirement Of the Il. " q. con
troll would like to convince the public Tor
awhile that the whole negotiation with
Mr. Garrett has fallen through absolutely.
"Mr. Sully'S option has expired 50
his friend General Logan averred yeSter-
day. adding that everything was off, and
thu. greatest deal known IN American rail
road history no longer contemplated.
All this means the probability Of de
lay ut least. 1t may be well , re-
member, however, that it has not been
declared in the Times that the sale was
finally cOnsummated; the bargain made
terms which were to be fulfilled. An
authority close to Robert Garrett has de-
clared that the option on the control was
GOOD for the remainder of this month. An
other man who protesSed to have infOrma-
tion, quoted the option rs running for
fortnight from last Saturday.
A gentlemen in the confidence OF nearly
every one connected with the deal was
asked last night if the Sully purchase had
fallen through. 'I've got nothing to say
was the answer. Only don believe quite
every word you hear within the next week
or two."
THE DEAL REPORTED OFF.
1t was stated at noon to-day that the ne
cotiations between Garrett and the Rich
mond Terminal Company have fallen
through, that the deal is of. A new prop
osition is now being considered by Mr..
Garrett and negotiations are now. on foot
for the transfer of control of the Baltimore
and Ohio to a syndicate of private bankers.
A PRIVATE sYNDICATE.
The new arrangement for the purchase
OF control of the B. & o. by private syn
dicate in which President Garrett will have
an interest, eontemplates placing the stock
in a collateral trust for new company
and issuing bonds secured by this trust to